Plymouth Community Investment Committee Loan Makes a Difference 

January 4, 2015

A $300,000 loan from Plymouth Community Investment Committee helped make possible the completion of the first phase of a 26-unit townhome project in South Seattle. Last week, Homestead Community Land Trust (HCLT), which creates homeownership (not rental) opportunities for low and moderate–income people, celebrated the opening of its Columbia City Townhomes project.

Putting a portion of Plymouth’s endowment to work in ways like this is truly faith in action. As Kathleen Hosfeld, HCLT’s Interim Executive Director noted, “Creating an equitable path to homeownership is an act of justice,” for a number of wider reasons;

  • The stability that comes with homeownership means healthier children and better academic achievement.
  • Affordable home options mean families can spend more on health insurance, food and saving for retirement.
  • Affordable home options with access to transit means more job opportunities and the ability to connect more qualified workers with available jobs.
  • Investments in affordable homeownership create local jobs, income, increased property values and property tax revenues.
  • The wealth building potential of homeownership is a powerful tool to reverse what some see as an unavoidable slide toward greater wealth inequality.

“Never forget that justice is what love looks like in public.” ―Cornel West

 

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